abraaj plans to make strong push into india
Last Updated : GMT 13:03:42
Arab Today, arab today
Arab Today, arab today

Abraaj plans to make strong push into India

Arab Today, arab today

Arab Today, arab today Abraaj plans to make strong push into India

New Delhi - Arabstoday

Abraaj Capital, the Middle East\'s largest private equity firm, is set to unveil more deal-making soon and plans a major push into India. \"In the next couple of months, we will call you guys again and again because we have a robust pipeline that is reaching completion,\" founder and group chief executive Arif Naqvi said in an interview. \"We are in the process of completing investments — two or three investments,\" said the 51-year-old Pakistani who is leading Abraaj\'s drive to become an emerging market powerhouse. \"2012 is the fruit of efforts made in 2011.\" Abraaj, founded a decade ago, has raised $7 billion (Dh25.7 billion) since its inception. It owns stakes in a range of Middle East companies including Orascom Construction, budget carrier Air Arabia, supermarket Spinneys and education group Gems. Funds managed by it have stakes in 35 firms across the region. Busy year Abraaj has had a busy year already, led by a strategic deal to buy emerging markets-focused Aureos Capital. It is also investing $125 million in a Moroccan insurance holding firm and has tied up with the top shareholder of TransAtlantic Petroleum to buy the Canadian company\'s oilfield services unit. Naqvi, one of the region\'s most influential financiers, said nearby India would be a focus region for investment. \"We have about six investments in India and we are looking to ramp that up massively. We have ten people on the ground, which is 10 more than we had last year ... India, to me, is a far more exciting market than China.\"

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